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Casino gets 3 preliminary offers for GreenYellow energy business – source

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A logo of French retailer Casino is pictured outside a Casino supermarket in Nantes, France, July 20, 2017. REUTERS/Stephane Mahe

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PARIS, June 7 (Reuters) – French retailer Casino (CASP.PA) has received three preliminary offers for its renewable-energy business GreenYellow, with bids around 1.5 billion euros ($1.60 billion) each, a source with knowledge of the matter said on Tuesday.

Macquarie (MQG.AX) I Squared Capital and Dutch company SHV had made preliminary offers as of June 2, the source said, adding that other potential bidders had asked for more time to put together a possible offer.

BFM TV earlier on Tuesday said GreenYellow had not attracted much interest from potential buyers in the French energy sector, hitting Casino shares in early trade.

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They were down 5% at 16.85 euros by 1449 GMT.

Casino, which has embarked on a plan to sell non-core assets to cut debt, said last month that it had launched a process to sell GreenYellow, aiming to seal a potential deal by the end of the year.

GreenYellow, which produces low-cost electricity and helps reduce companies’ power consumption, said in February it had raised about 200 million euros to support future growth. read more

($1 = 0.9350 euros)

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Reporting by Dominique Vidalon, Editing by Silvia aloisi, Tasilo Hummmel and Jane Merriman

Our Standards: The Thomson Reuters Trust Principles.



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